Rates
Today's mortgage rates, in full
Every program we offer, with the rate, the APR, and the assumptions behind it. Updated each business day at 10:00 a.m. Eastern.
Purchase rates
Single-family primary residence, $400,000 loan, 20% down, 760 credit score, no discount points.
Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
Refinance and home equity
Refinance rates assume 70% loan-to-value on a primary residence. Home equity rates are variable and tied to prime.
Why your quote may differ
Advertised rates describe one specific borrower. Four things move yours away from the table above.
Credit score
The table assumes 760 or above. A 700 score typically adds about 0.25%, and a 660 score about 0.625%, on a conventional loan.
Loan-to-value
Less than 20% down raises the rate slightly and adds mortgage insurance. Above 20%, further down payment has little effect on pricing.
Occupancy and property type
Second homes price about 0.25% higher and investment properties about 0.75% higher. Condominiums above 75% loan-to-value carry their own adjustment.
Discount points
One point costs 1% of the loan and buys roughly 0.25% off the rate. It pays back in about six years, so it suits members who plan to stay.
Common questions
How often do these rates change?
Posted rates update each business day at 10:00 a.m. Eastern, and can move intraday when the bond market is volatile. A rate is not yours until it is locked in writing.
Why is the APR higher than the rate?
APR includes lender costs spread across the life of the loan. Our spread is narrow because we charge no origination fee; a wide gap between rate and APR usually signals fees you have not been shown yet.
When can I lock, and for how long?
You can lock once you have a property address and a complete application. Standard locks run 90 days at no cost, and you may relock once at a lower rate if the market falls 0.25% or more.
What counts as a jumbo loan?
Anything above the conforming limit for your county, which is $806,500 in most of the country and higher in designated high-cost areas. Jumbo files need slightly stronger reserves, usually six months.
Why are ARM rates lower than fixed rates?
You are accepting the risk of adjustment after the initial period in exchange for a discount now. The 7/6 ARM holds its rate for seven years, then adjusts every six months, capped at 2% per adjustment and 5% over the life.
Do members get better pricing than the general public?
These are member rates, and membership is the only way to get them. Because Summit is member-owned, the margin that would otherwise become shareholder profit is what funds the difference.
Lock today's rate for 90 days
Get pre-approved, find the house, and hold this pricing while you do it. There is no fee for the lock.